Munger, Tolles & Olson corporate lawyers advised Leslie Blodgett, the CEO of San Francisco-based Bare Escentuals, in connection with its acquisition by Shiseido, Japan’s largest cosmetics company, for approximately $1.7 billion. Ron Olson and Michael O’Sullivan represented Ms. Blodgett in negotiating a new employment agreement, revisions to her name and likeness agreement and a novel retention arrangement in which she reinvested a portion of her equity in the post-merger company.